https://www.taxtmi.com/caselaws?id=254562 Valid Cenvat credit taken when tractors were dutiable was not required to be reversed merely because tractors later became exempt from duty. The position discussed is that there is no general rule requiring reversal of credit on inputs lying in stock, in process, or contained in finished goods at the date of exemption, and no necessary co-relation is required between each input and the final product cleared. Valid credit is treated as indefeasible unless it was illegally or irregularly taken. The later insertion of Rule 11(3) was treated as clarificatory only from its commencement and did not affect credit already accrued on the facts considered. en-us Fri, 28 Nov 2014 00:00:00 +0530 Mon, 17 Aug 2015 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254562 Valid Cenvat credit taken when tractors were dutiable was not required to be reversed merely because tractors later became exempt from duty. The position discussed is that there is no general rule requiring reversal of credit on inputs lying in stock, in process, or contained in finished goods at the date of exemption, and no necessary co-relation is required between each input and the final product cleared. Valid credit is treated as indefeasible unless it was illegally or irregularly taken. The later insertion of Rule 11(3) was treated as clarificatory only from its commencement and did not affect credit already accrued on the facts considered. Case-Laws Central Excise Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254562